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The article takes note of how several cities across the nation are deep in debt, including Detroit (no surprise there). The numbers aren't huge in comparison to what we're used to looking at this quarter but it all adds up and several things are going to end up being cut at the local level. What does this mean for public education and social welfare programs?
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Unfortunately the impact is going to be hardest felt by the poorest in the cities. Like Jim suggested social services and education capable of changing the story in these areas will suffer most. Production and employment has fled the cities meaning the tax bases are shrinking leaving desolation and poverty behind, but the people aren't going away so costs aren't really falling. I fear that these urban areas will become third-world styled urban slums within our own nation until we find a good way to change the story.
ReplyDeleteIt's sad that programs for education and social welfare would be affected the most, when those are the ones that would be the most helpful in changing a situation like this, as Tommy said.
ReplyDeleteIn the section on Harrisburg, I was surprised to see that the city would go to measures like selling Western artifacts on Ebay, just make extra money. I couldn't believe it but it makes sense when you're that desperate to keep a city afloat.
I agree with Dana in that it is sad for the education and social welfare programs because those two will for sure get hit the hardest and it so unfortunate because those two are the most helpful. I think that even if cities default it is the governments obligation to keep education and social welfare going. Especiially public, free education.
ReplyDeleteI think this underscores the importance of some of Stiglitz's recommendations regarding how to solve the financial crisis. Cities and states are always hit harder because they have to balance budgets and don't have the tools of the federal government.
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